Bajaj Electricals jumps after winning orders

Bajaj Electricals rose 6.60% to Rs 295.60 at 9:16 IST on BSE after the company said it bagged eight new orders worth Rs 518.46 crore from for rural electrification works in Madhya Pradesh.

The announcement was made after market hours on Friday, 12 September 2014.

Meanwhile, the BSE Sensex was down 152.54 points, or 0.56%, to 26,908.50.

On BSE, so far 43,000 shares were traded in the counter, compared with an average volume of 75,172 shares in the past one quarter.

The stock hit a high of Rs 295.95 and a low of Rs 287 so far during the day. The stock hit a record high of Rs 384.80 on 28 May 2014. The stock hit a 52-week low of Rs 156 on 13 November 2013.

The stock had underperformed the market over the past one month till 12 September 2014, rising 1.95% compared with 4.56% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 18.56% as against Sensex's 5.81% rise.

The small-cap company has an equity capital of Rs 20.10 crore. Face value per share is Rs 2.

Bajaj Electricals announced that the engineering and project business unit of the company has bagged eight new orders for rural electrification work in Jabalpur Distric from Madhya Pradesh Purva Kshetra Vidyut Vitaran Company and in Bhopal District from Madhya Pradesh Madhya Kshetra Vidyut Company, under Rajiv Gandhi Gram Vikas Yojana, aggregating to Rs 518.46 crore.

Bajaj Electricals' reported 753% surge in net profit to Rs 5.63 crore on 12.5% rise in total income to Rs 889.89 crore in Q1 June 2014 over Q1 June 2013.

Bajaj Electricals is an electrical equipments manufacturing company. It has diversified interests in lighting, luminaries, appliances, fans, LPG based generators, engineering and projects. Its main domains are lighting, consumer durables, engineering and projects.

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